An increase in the demand for computer games could be caused by .......... a) a decrease in the price of computer games b) a decrease in the price of computers if computers are complements to computer games

Q: The cost of a gizmo has gone up. Which of the following would indicate that there would be a good…

A: The length of time has a big impact on how elastic the demand is. Long-term customers have the…

Q: If the demand for airline traveling increases,

A: As the demand increases, the demand curve shifts towards right and with the decrease in demand the…

Q: The demand function of a certain commodity is X = 30-2P. When the price P changes from 5 to 10,…

A: Price elasticity of demand measures how responsively the quantity of a good or service changes in…

Q: Choose the best option that defines the Perfectly Price Elasticity. a) Quantity demanded changes…

A: Price elasticity of demand is the measure of change in the quantity demanded due to the change in…

Q: If peanut butter and jelly are complements for consumers, then it is likely that O their cross price…

A: Because peanut butter and jelly are complementary goods, as the price of jelly rises, so does the…

Q: A D Quantity 2. Refer to the above figure. What areas represent the total revenue at P1?

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: explain with the help of a diagram how new technology might change the elasticity of supply of new…

A: The effect of the technology on the elasticity can be explained as follows :  Elasticity of Supply :…

Q: Joe plays tennis 4 times per month when the price is $35 and 3 times per month when the price is…

A: The quantity demanded of a good or service and its price movements can be measured by using…

Q: If the cross price elasticity of demand for grommets and widgets is negative, then

A: Cross elasticity of demand is referred to be as a tool which calculates how the change in price of…

Q: Is the change in revenue related to an increase in units sold, an increase in prices, or…

A: Revenue is the value of sold products. It is derived as price per unit multiplied by the quantity…

Q: 1. Use Exhibit 1. Which of the following statements is (are) correct? (x) Using the midpoint method,…

A: Answer is given below

Q: will the demand for online paid tv increase in the future ?

A: Pay-TV or paid TV is a subscription-based television service which means a television service that…

Q: You work for a company that produces statistical software used by professional 3. researchers and…

A: Answer: Given, Price elasticity of demand of researchers = -0.3  (inelastic demand) Price elasticity…

Q: An increase in demand for a good may be caused by a decrease in the price of *         the good.…

A: The demand curve shows the association between the amounts of commodity demanded by the consumer at…

Q: The price elasticity of demand measures... The response of revenue to a change in price The…

A: Price elasticity of demand is the concept related to demand and supply curve which refers to change…

Q: When the price of lipstick rises 10%, the quantity of lipstick demanded falls 5%. (a) What is the…

A: Price elasticity of demand is a measure of the change in the quantity purchased of a product in…

Q: Demand increases or decreases?& drawing

A: Demand for a commodity change due to various reasons like change in price of the commodity, price of…

Q: Explain the cross elasticity of demand for unrelated products

A:

Q: Explain how a store can sell more elastic goods

A: Elastic demand is when the change in quantity demand will be greater than the change in price.

Q: Which will not cause a change in the demand for good X?  A) a change in tastes B) a change in income…

A: Answer - Need to find- Which will not cause a change in the demand for good X Evaluating the…

Q: Total revenue increases of the price of the good A) rises and demand is elastic. B) rises and…

A: The elasticity of demand is the percentage change in quantity demanded divided by the percentage…

Q: Which of the following would NOT change demand? *         a)information about the product's health…

A: Demand is the willingness of consumers for consuming goods and services at given prices. Under…

Q: Previously when Rafiq was earning 30000 tk per month he was consuming 2 unit got X and 2 unit good…

A: Elasticity of demand refers that change in demand due to change in price , so here we calculate the…

Q: Peter's Pizza Shack knows that a 12 percent decrease in the price of their pizzas will result in a…

A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

Q: Evaluate the behavior of consumers in terms of the demand for products

A: The economy consists of the various economic agents which would result in the producers, consumers…

Q: 6-3 Promotional Pricing An end-of-aisle price promotion changes the price elasticity of a good from…

A: A promotional price refers to a short-term decrease in the cost of a product or service, usually…

Q: Will the demand for pay TV shows increase in the future

A: The demand for pay TV shows will increase in the future because:

Q: How do you respond to the price elasticity

A: Economics is a subject that studies and plans the distribution of scarce resources among humans who…

Q: If the demand for chapati is elastic then a decrease in the price of chapati will: (a) Incresase…

A: Price elasticity of demand measures the responsiveness of quantity demanded for a good due to…

Q: If there is a decrease in the price of water (a complement), demand for Head&Shoulders shampoos will…

A: Demand is the willingness  of consumers for consuming goods and services at given prices. Under…

Q: For a good with the following demand: Quantity Demanded Price 6000 $20 14,000 $15 (a) Calculate the…

A: Price elasticity of demand is defined as the percentage change in the quantity demanded for a good…

Q: 026. As a result of increase in price by 20%, the 40%. Comment on PED.

A:

Q: instead of a decrease and it was an increase instead of a decrease; would that mean that the demand…

A: Normal goods are goods that people demand more of when their income increases. This is because…

Q: QUESTION 1 describes X? A product X is an inferior good with no close substitutes. It is a…

A: Elasticity is a concept that's utilised to predict how demand or supply will fluctuate as a result…

Q: Demand is elastic when: (a) Price level is high (b) More substitutes are available (c) Income of the…

A: # Elastic demand means that the consumer are highly responsive to any changes in price.

Q: Last year Lana's income was $32500, the number of times she dined out was 31 and the average price…

A: Due to the reason that it assesses market responsiveness, elasticity is an important term in modern…

Q: For a particular good, 10% increase in price causes a 5% decrease in quantity demanded. Which of the…

A: Elasticity of demand measures theresponsiveness of quantity demanded with respect change in price.…

Q: Why do suppliers want to create more inelastic demand relationships in the products that they sell?

A: The markets are the place where the buyers and sellers of goods, services, investments, assets, and…

Q: The schedule below shows the quantities of nails demanded at each price: Price Quantity Old 400…

A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation…

Q: Suppose a good has a demand curve given by Q = 20 - 8 × P. What is the price elasticity of demand if…

A:

Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.